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Social Sciences x Financial Institutions and Services x National Budget, Deficit, and Debt x clear all

Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades

Manuel Adelino and Miguel A. Ferreira.

in The Review of Financial Studies

July 2016; p ublished online January 2016 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Banking; Investment Banking; Financial Regulation; National Budget, Deficit, and Debt. 16940 words.

We study the causal effect of bank credit rating downgrades on the supply of bank lending. The identification strategy exploits the asymmetric impact of sovereign downgrades on the ratings...

Credit ratings and the pricing of sovereign debt during the euro crisis

Joshua Aizenman, Mahir Binici and Michael Hutchison.

in Oxford Review of Economic Policy

January 2013; p ublished online December 2013 .

Journal Article. Subjects: National Budget, Deficit, and Debt; Investment Banking; Economics; International Finance. 11295 words.

This paper investigates the impact of credit rating changes on the sovereign spreads in the European Union and investigates the macro and financial factors that account for the time-varying...

Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

Emmanuel Farhi and Jean Tirole.

in The Review of Economic Studies

July 2018; p ublished online October 2017 .

Journal Article. Subjects: International Finance; Financial Regulation; National Budget, Deficit, and Debt. 22902 words.

Abstract

The recent unravelling of the Eurozone’s financial integration raised concerns about feedback loops between sovereign and banking insolvency. This...

Exporting Sovereign Stress: Evidence from Syndicated Bank Lending during the Euro Area Sovereign Debt Crisis

Alexander Popov and Neeltje Van Horen.

in Review of Finance

August 2015; p ublished online November 2014 .

Journal Article. Subjects: National Budget, Deficit, and Debt; Banking; International Finance; Money and Interest Rates. 16356 words.

We show that after the start of the euro area sovereign debt crisis, lending by non-GIIPS European banks with sizeable holdings of GIIPS sovereign bonds declined relative to nonexposed...

Sovereign Debt, Government Myopia, and the Financial Sector

Viral V. Acharya and Raghuram G. Rajan.

in The Review of Financial Studies

June 2013; p ublished online April 2013 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Institutions and Services; National Budget, Deficit, and Debt. 14348 words.

What determines the sustainability of sovereign debt? We develop a model where myopic governments seek popularity but can nevertheless commit credibly to service external debt. They do not...